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Directly unproductive profit-seeking activities
Activities that have no direct productive purpose (neither increasing consumer utility nor contributing to production of a good or service that would increase utility) and are motivated by the desire to make profit, typically from market distortions created by government policies. Examples are rent seeking and revenue seeking. Term coined by Bhagwati (1982).
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- Part of Speech: noun
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- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
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